USDA - 100% Home Financing and lower Mortgage Insurance than FHA Loans!
Updated December 8, 2021
Rural areas of USA may qualify for this 100% Special Financing that includes lower Mortgage Insurance rates than FHA Loans.
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- Provides up to 100% special financing for Mortgage Home Loans in participating Florida Counties
- Buyer does not need to be 1st time Home Buyer.
- Seller can contribute up to 6% towards Closing Costs.
- Buyers cannot have more than $15,000 in non-retirement liquid assets. Excess of $15,000 must be used as down payment.
- Borrower must have three active trade lines, no alternative credit.
- Higher Income limits than typical state or county programs.
- FICO 5-4-2 middle credit score minimum for mortgage would be 640 or higher. 660 or higher middle score is preferable to GUS (Government Underwriting System).
- In the case of a USDA - Rural Development loan, lower credit scores adversely cause lower debt-to-income ratios to be lower for Borrower.
- Maximum purchase price of FHA County limits in area purchased.
- Lender credit available depending on how high credit scores are at the time they are pulled.
- Both forms or Mortgage Insurance, (upfront and monthly mortgage insurance) are significantly lower than FHA Mortgage Insurance.
- No Prepayment Penalty Fee if loan is paid out early.
- Seller can contribute up to 6% towards Buyers Closing Costs.
- Area population density determines if USDA Loan is available option in the area you want to move to.
Other Florida First-Time Home Buyer & Down Payment Assistance Programs:
- First Time Home Buyer 105% Special Financing with No Income Limit
- Lease-to-Own and Rent-To-Buy-Home program. This is a great Home Buying program for All Florida Middle Income Home Buyers!
- First Time Homebuyer 100% Special Financing with No Mortgage Insurance
- Manatee $10,000 Key Ownership Down Payment Assistance Grant for First Time Home Buyers
- First Time Home Buyer Special Financing matching Grant Loan by FHLB
- OWN A HOME Down Payment Assistance Grant (Not required to be a 1st Time Home Buyer)
- Newest First Time Home Buyer program for so many Occupations! Up to $25,000 in Down Payment Assistance!
- Home Sweet Home 1st Time Home Buyer program for Hillsborough, Clay, Brevard and Duval counties with up to $25,000 Down Payment Assistance.
- 1st Time Home Home Buyer, $10,000 Down Payment Assistance program
- 1st Time Home Buyer 3%-5% Grant for Down Payment Assistance
- First Time Home Buyer 3.5% Grant for FHA Down Payment Assistance
- First Time Home Buyer $10,000 deferred Down Payment Assistance loan
- $10,000 Down Payment Assistance for First Time Home buyers!
- Home Key Down Payment Assistance programs for Pinellas, Pasco and Polk County Florida
- Down Payment Assistance Unlimited Income Grant for 100% Financing for Home Financing!
- Palm Beach County 1st Time Home Buyer Grant and Down Payment Assistance Program
- Miami-Dade 1st Time Home Buyers Down Payment Assistance program
- USDA - 100% Home Financing and lower Mortgage Insurance than FHA Loans!
- Salute Our Soldiers 100% VA Loan Program for Honorably Discharged Veterans
- Investor Real Estate Loans for Rental Property purchase!
- Bank Statement loans for the Self Employed up to $3M!